Gagnon Securities Lowers stake in athenahealth Inc (ATHN)

athenahealth Inc (ATHN) : Gagnon Securities reduced its stake in athenahealth Inc by 1.03% during the most recent quarter end. The investment management company now holds a total of 98,540 shares of athenahealth Inc which is valued at $12,242,610 after selling 1,025 shares in athenahealth Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.athenahealth Inc makes up approximately 5.41% of Gagnon Securities’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) reduced its stake in ATHN by selling 124 shares or 67.39% in the most recent quarter. The Hedge Fund company now holds 60 shares of ATHN which is valued at $7,454.Td Asset Management Inc reduced its stake in ATHN by selling 11,186 shares or 22.37% in the most recent quarter. The Hedge Fund company now holds 38,814 shares of ATHN which is valued at $4,921,227. athenahealth Inc makes up approx 0.01% of Td Asset Management Inc’s portfolio.State Treasurer State Of Michigan boosted its stake in ATHN in the latest quarter, The investment management firm added 181,400 additional shares and now holds a total of 183,000 shares of athenahealth Inc which is valued at $23,050,680. athenahealth Inc makes up approx 0.18% of State Treasurer State Of Michigan’s portfolio.State Of Alaska Department Of Revenue reduced its stake in ATHN by selling 1,267 shares or 60.71% in the most recent quarter. The Hedge Fund company now holds 820 shares of ATHN which is valued at $113,636. athenahealth Inc makes up approx 0.01% of State Of Alaska Department Of Revenue’s portfolio.

athenahealth Inc opened for trading at $120.55 and hit $122.455 on the upside on Friday, eventually ending the session at $122.1, with a gain of 0.53% or 0.64 points. The heightened volatility saw the trading volume jump to 2,58,320 shares. Company has a market cap of $4,804 M.

On the company’s financial health, athenahealth Inc reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.26. The company had revenue of $256.15 million for the quarter, compared to analysts expectations of $248.49 million. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on athenahealth Inc. Shares were Reiterated by FBR Capital on Jul 22, 2016 to “Mkt Perform” and Lowered the Price Target to $ 140 from a previous price target of $145 .Shares were Downgraded by Deutsche Bank on Jul 22, 2016 to ” Hold” and Lowered the Price Target to $ 147 from a previous price target of $165 .

athenahealth Inc. is a provider of cloud-based services and mobile applications for medical groups and health systems. The Company delivers cloud-based services for revenue cycle management and medical billing electronic health records (EHR) patient engagement care coordination population health management as well as clinical intelligence and decision support. Through these services the Company connects health care information and processes and drives results for more than 62000 health care providers in medical practices and health systems nationwide. The Company’s service offerings include the following: athenaCollector for revenue cycle management and medical billing; athenaClinicals for EHR management; athenaCommunicator for patient engagement and communication; athenaCoordinator for care coordination population health and financial and quality management and Epocrates for clinical intelligence and decision support services.

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